• Breaking News

    Sunday, May 30, 2021

    Home Unlabelled Cryptocurrency Daily Discussion - May 30, 2021 (GMT+0)

    Cryptocurrency Daily Discussion - May 30, 2021 (GMT+0)

    May 30, 2021

    Cryptocurrency Daily Discussion - May 30, 2021 (GMT+0)

    Daily Discussion - May 30, 2021 (GMT+0)

    Posted: 29 May 2021 05:00 PM PDT

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
    • Comments will be sorted by newest first.

    Useful Links:

    submitted by /u/AutoModerator
    [link] [comments]

    Hope this doesn't count as insider trading but I overheard a couple guys in County jail talking about an Etherium fork..

    Posted: 29 May 2021 10:26 PM PDT

    Apparently there's a token coming out called mETH. These two guys were so bullish on it that they literally wouldn't talk about anything but mETH for entire days at a time. One of the guys even stole his mom's silverware to sell for more mETH. (Buy the dip amiright?)

    My only concern is the environmental factor. The other investor was pretty burned. Apparently his mining center overheated and legit exploded. (They're called mETH labs btw). Anyways, wanted to share that here with y'all.

    💎🙌 keep those Crystal Hands!

    submitted by /u/rikeezzein
    [link] [comments]

    I built a site that combines social media and keeps track of the most talked about crypto symbols

    Posted: 29 May 2021 08:32 PM PDT

    I built a site that takes posts from 14 different subreddits on reddit as well as from thousands of popular crypto investing twitter, YouTube, and tiktok users and places them into one searchable and organized place. The site keeps track of the most talked about cryptos and places them under "Trending". You can see the performance of all the different symbols across the crypto market. The site is a great way to find new crypto projects to invest in as well as find more information about projects you are already interested in. Simply search for a ticker symbol and see all posts containing that symbol across social media. It also comes with a lot of different tools to build custom alerts and analyze the correlation between social media trends/sentiment and crypto prices.

    This has been a super useful tool in helping with my investments and learning more about the crypto space in general and I felt like it could benefit you guys as well.

    CryptoCompiler

    submitted by /u/notdjc
    [link] [comments]

    I bought a shitcoin that was pretty popular during the last bull run - it’s still 99% down from ATH

    Posted: 29 May 2021 08:50 PM PDT

    Wayyy back I bought a coin called xtrabytes - it was actually popular (shilled) for a short period on this sub in 2017. It was hailed as the next ethereum. The team was talking about a patent - everybody was waiting for it… but it never came. Apparently the founder died too lol

    Anyway it's clear that it's a shitcoin and it never recovered this bull run. It's still 99% down and still bleeding. I bought such a small amount it doesn't matter to me but it is kind of funny in hindsight.

    Here's a reminder that not all coins recover from a bear market. If you want to gamble on a shitcoin then go ahead but don't expect a recovery like btc or eth in the next bull market.

    Stay safe out there my humans!

    submitted by /u/randomtrip10
    [link] [comments]

    If You Can Hold a 401K Plan for 30-40 Years, You Can Hold Bitcoin for 3-4 Years.

    Posted: 29 May 2021 10:22 AM PDT

    You also only have to buy into BTC once, unlike a 401K where most people keep buying back in every pay check only to lose what you earned in interest by paying a penalty if you withdraw too early. Because that's the trick. The trick to a 401K is to get everyone to hold because if everyone sells, then everyone else who didn't sell fast enough will lose money and the whole thing will crash. That's why they charge penalities.

    It's like investing in safemoon and they charge you penalities for selling In order to keep the current value more stable so the entirety of holders don't start panic selling it into oblivion.

    Also you can panic sell a 401K too. It happened to many people after the housing market crash of 2008. My mom panic sold her 401k because it went from $50K to $9K ...I don't know much about investing then but I will never forget what she said. I was afraid I would lose it all, it kept going down

    What she says sounds much like what people say about Bitcoin.

    Nowadays my mom is retired, and sometimes she brings that up...I should've just kept it in...it went back up

    Unfortunately this is how the most powerful people work. They shake out weak hands so they can buy up super low. Otherwise there would be no big guy buying your shit back.

    Rich are buying your shit cheap for a reason...not just because they are just speculating.

    So yeah, you can get serious FUD with 401K and it's not just coming from my mom. Many honest hard working people don't understand the game whales play...they get shilled into things and are convinced it's safe because their employer offers it. All a 401K is, is investments into stocks and bonds that are stable but not always safe.

    So if you can continually dump every paycheck into something that penalizes you for withdrawing early and hold that shit for 30 years , then you can buy Bitcoin once and hold it for 3 years without any penality for withdrawing some too early unless tax on capital gains. But that's normal.

    So stick to your original plan, and hold.

    submitted by /u/JuicySpark
    [link] [comments]

    Two years ago my grandpa told me I was an idiot for investing in cryptocurrency. Today I sold some BTC to help him pay for his hospital bills.

    Posted: 30 May 2021 01:47 AM PDT

    My grandpa currently doesn't have private healthcare, he fell off the stairs and luckily only broke his arm, it was a triple fracture, he is covered by universal healthcare but we were told he needed to wait between 2 to 5 months for a team of specialists to perform the surgery, so my family opted for a private clinic instead.

    Grandpa insisted he wanted to pay all by himself, but in order to do so he would have had to spend all of his life savings since it's a really expensive surgery and he needs a prosthesis. So we split the bills between my dad, my uncle and I. Now, I won't tell my grandpa I used crypto money to help him, the biggest satisfaction was being able to help my family, and all because of my initial investment in crypto. I'm still HODL and DCAing btw. But no amount of money/cryptocurrency can replace the people you love, remember why you got into crypto in the first place, people matter, money comes and goes.

    I needed to tell somebody, so I'm sharing my story here. I don't come from wealth so, hadn't I invested in early 2019, I would've never been able to help my family financially. That's why I'm so thankfull with the whole Crypto ecosystem, and you people are all part of it.

    So I guess this is the same piece of advice we are constanly repeating on this sub, but it's the truth, if you DYOR and understand what you are getting into, no matter what the project if you believe it has potential they don't let anybody discourage you, invest wisely what you can afford to lose and HODL.

    Edit: Spelling.

    submitted by /u/Thehellishsinger
    [link] [comments]

    Dear Bitcoin

    Posted: 29 May 2021 11:07 AM PDT

    Dear Bitcoin, I bought some of you but you still ain't mooned

    I sold my car, my valuables and the coins from the couch that were at the bottom

    I sent two bitcoin To Bill Gates in exchange for 10 but he must not-a got 'em

    There probably was a problem on the exchange or somethin'

    Sometimes I scribble addresses too sloppy when I jot 'em

    But anyways, fuck it, when lambo man? When's your bottom?

    My girlfriend's buying too, I'm 'bout to be a financial advisor

    If I make my own token, guess what ima call it?

    Something with a dog.

    I read about the China news too I'm sorry

    I had a friend sell his Bitcoin and say he didnt want em

    I know you probly hear this every day, but I'm your biggest fan

    I just lost all my bitcoin in some scam

    I had a drive full of your coins and your wallets man

    So i bought some more with my latest paycheck, that shit was fat

    Anyways, I hope you moon soon man, hit some green

    Just to stack, truly yours, your biggest fan

    Diamond hand

    submitted by /u/atticaniball
    [link] [comments]

    I may have stumbled into the first ever Bitcoin post on reddit

    Posted: 29 May 2021 06:09 AM PDT

    Crypto .com is advertised on ice during tonight’s Montreal vs Toronto hockey game

    Posted: 29 May 2021 06:13 PM PDT

    This is the first time I've noticed a crypto company advertised during a sport and just wanted to bring it to attention. I don't use crypto .com but I still think this is huge for the movement. Very excited for the years to come.

    submitted by /u/cellular-device
    [link] [comments]

    Some of us need to go touch grass.

    Posted: 30 May 2021 01:06 AM PDT

    So many of us will say "I will hold no matter what". And you know what? That's awesome. I really do think we will be rich in a few years time. But that's the thing. It will take a few years. Are we really going to check the charts and the daily thread 20 times a day? I mean what's the point, if we aren't going to sell no matter what?

    Lately crypto has been a lot of what I think about, and I don't want that to be the case for years at a time. I'm gonna go touch grass, live my life, mine some fiat, and just consistently keep buying. If crypto goes way up, I'm sure I'll find out, and come right back here. If it plummets, same thing. But I'm going to make a conscious effort to pay less attention to it and focus on the rest of my life, and I feel like maybe some of you could benefit from that as well.

    Anyways,

    See you in a few years, or in the daily thread tomorrow if I fail.

    submitted by /u/WolfOfWallStreetBet5
    [link] [comments]

    BitBoy Crypto's Ben Armstrong made a video to announce how he sold $2M of his alts earlier this morning to get "ready". He probably panic buying right now. Sell low buy high is the name of his game.

    Posted: 29 May 2021 11:00 PM PDT

    He made a point to let everyone know this morning, when people were very uneasy already, how he sold off his $2M in alts. Basically trying to encourage people to sell their stack too.

    Ben's stuff is unbearable with his cringyness as it is and lately the FUD he is stirring up. Please don't listen to this guy who likes to sell low buy high.

    not going to link his video to give him views but if you are curious you can look up the video from this morning

    submitted by /u/skysmoker
    [link] [comments]

    A comprehensive guide to building up your nest egg and earn passive income from your crypto. (Repost)

    Posted: 30 May 2021 01:40 AM PDT

    The last post died in new because it was stuck in a mod queue for 6 hours. So reposting it for more visibility. Would love suggestions for next week's update!

    I have seen amazing responses on the last post which so now we getting weekly updates! Weekly updates will serve the purpose to update tables as new information comes in, onboard new users to the 8th wonder of the world: compound interest, and also answer your important questions!

    The 3 methods mentioned below are by far the most popular ways to earn a yield on your cryptocurrency:

    Question: What is Cryptocurrency Staking?

    • Staking generally refers to the holding of your cryptocurrency funds in a wallet or an exchange and hence supporting the functionality of a blockchain system. The cryptos are being locked in their wallets by the stakeholders. They are then rewarded by the network in return. Staking provides a way of making an income.

    Question: What is Cryptocurrency Lending?

    • Crypto Lending is a transaction in which you can lend your crypto and earn interest rates that accrue over a period of time. The transaction is supported by Crypto Lending Platforms selling loans to various cryptocurrencies such as Ether, Bitcoin, and Stable Coins.

    Question: What is Liquidity Providing?

    • Liquidity Providing is a way of earning money on your coins in a decentralized manner which is managed by the smart contract. The pool is used for liquidity to power the swapping ability of a DEX. Investors are encouraged to deposit into liquidity pools because they earn revenue from the swaps that happen on the DEX platform.

    Question: How do I choose what is best for me?

    • Go through the pros and cons of each and you will get to know which is the best for you!

    Pros:

    Cryptocurrency Staking Cryptocurrency Lending Liquidity Providing
    Non-Custodial which means you are in control of all your coins at all times. Easy to use and very low learning curve. It is just a deposit and you earning interest. Non-Custodial which means you are in control of all your coins at all times.
    Many options you can stake in the safety of your own wallet or stake on an exchange to get instant liquidity for selling The reward we are compensated for FAR outweighs the non-custodial aspect of the services. Potential to earn the governance coin just by participating which boosts yield.
    High APY for certain coins Low barrier to entry which means you can start with a small number of coins too Highest APY out of all other options

    Cons:

    Cryptocurrency Staking Cryptocurrency Lending Liquidity Providing
    High barrier to entry for some coins. where you got to deposit a lot of coins if you want to stake non-custodial. It is a custodial Service. So you are not in control of your coins at all times Extremely High fees right now to deposit and withdraw liquidity from a pool.
    Vulnerable to Exploits and Hacks in the smart contract Vulnerable to bad decision making in the company or inside jobs Vulnerable to Exploits and Hacks in the smart contract
    The high learning curve for some coins like ETH2 where you have to set up validators Withdrawals are usually not instant You have to worry about slippage high gas fees and impermanent loss. So I would only suggest LPing if you are more experienced.

    Note: Don't get scared by the cons as the hacks and inside jobs are virtually non-existent for good exchanges, services, and smart contracts. If you DYOR effectively this should not be a problem for you.

    Question: How to earn a yield on Bitcoin?

    • You cant stake bitcoin so you have to rely on lending services for now
    • Decentralized lending services exist but the APY is too low to consider (0.26%)
    • Here are a few reputable services that provide a yield on Bitcoin
    Service Blockfi Crypto.com Celsius Network/Voyager Ledn.io Nexo.io Swissborg
    Annual interest rate 5% 1.5% 6% 6.1% 4% 3%
    Lockup No lockup No lockup normally but Lock up is also available for boosted rewards No lockup No lockup No lockup normally but Lock up is also available for boosted rewards No lockup
    Service has its own token for boosted rates? No Yes Yes No Yes Yes

    Note:

    1. Celsius and Voyager are together because Celsius has partner with Voyager to provide yield for Voyager customers.
    2. Celsius yield is only 6% for US customers. Internationally it's 3.51%

    ​

    Question: How to earn a yield on Ethereum?

    • The best way right now is to partake in ETH2 staking APY is currently between 6-8%. If you have less than 32 ETH you should stake it on a reputable exchange like Kraken or Binance.
    • Important: ETH 2 rewards will be locked till ETH2 hard launches. But you can still trade back your locked eth to normal eth by the respective pairs on the exchange
    • Another way is to do it is via rocket pool when it launches.
    • If you don't like the idea of locking up your coins here are some services and the yield they provide on Ethereum.
    Service Blockfi Crypto.com Celsius Network/Voyager Nexo.io Swissborg
    Annual interest rate 4.55% 2.5% 5.05% 4% 3.5%

    ​

    Question: How to earn a yield on Stablecoin?

    • You could use the services mentioned below or you can dip your toes in DEFI lending like Anchor protocol (over 20% APY on UST !) or use the Compound protocol.
    • Liquidity providing is also a good option but you have to worry about slippage high, gas fees, and impermanent loss. So I would only suggest LPing if you are more experienced.
    Service Blockfi Crypto.com Celsius Network/Voyager Ledn.io Nexo.io Swissborg
    Annual interest rate 9.3% 6% 10% 12.5% 8% 7.25%

    ​

    Question: How to earn a yield on other coins?

    • Some coins can be staked in your wallet in your custody. Some can be staked on exchanges like Kraken and Binance. Please do not miss out on these rewards, they compound and will help you reach financial freedom quicker.
    • Note: some of the services I mentioned above are non-custodial. The "not your keys not your crypto" comes to mind. But I feel that the reward we are compensated for FAR outweighs the non-custodial aspect of the services.
    • Good websites to learn more about rates and places to earn a yield on other coins are:
    • interest.coinmarketcap.com
    • stakingrewards.com

    ​

    Now for some questions that I got from the previous update.

    Question: I only have a small amount in crypto should I still stake my coins?

    A: credit to AhwahneeBanff

    1. Most people underestimate the power of compound interest, especially when being turbocharged by a rapidly appreciating asset.
    2. Let's say you buy 5000 Cardano at $2 and 5 years later it becomes $20. Given a 5.5% APR (The most common number I see on the stake pools) you would be earning:
    3. Year 1: 275 Cardano earned from staking, or $550 in fiat earning, 5.5% fiat return (550/10,000) Year 5: 275 Cardano earned from staking, or $5,500 in fiat earning, a 55% return! (5,500/10,000)
    4. And this is not assuming compound interest, on year 5 I would actually have 6,534 Cardano which gives 359 Cardano given a 5.5% compounded return. This means $7,180 in fiat return (359x20), which is a 71.8% return on my initial $10,000 investment into Cardano, annually!
    5. Even if you have a small portfolio you should definitely start. Magic of compound interest + appreciating asset price will help you reach your own goal a lot quicker and with a lower amount of capital than if you were to ignore it.

    The best part is that you're usually earning it in kind, so even if the current USD value seems insignificant, I suppose you're not invested in anything you don't expect will increase in value, so every dollar this week will hopefully be worth way more. Just a nice passive DCA basically.

    This means even if you think staking is insignificant right now you would be surprised if crypto adoption keeps rising a couple of years down the line.

    Question: Where's the catch for the >10% yields on stablecoins? It sounds a little too good to be true, so I'm skeptical...

    A: There are a few ways that service can offer rates like this when other savings accounts offer fractions of this return rate:

    1. No FDIC Insurance. Without this restriction, these services can take larger risks on the assets that they hold, while traditional banks are required to hold a large amount of Treasury Bond/Cash. This also means that if these services go broke, the US Government will not step in, and reimburse our deposits.
    2. They offer loans to other companies doing business in the crypto space. Since these companies have trouble getting loans through traditional banking, these services are able to charge premium interest rates on these companies.
    3. It seems that they are also using their Crypto assets, and their novel position in the market to offer other products to consumers, like offering loans backed by your crypto, or a credit card. I would expect these offerings to expand over time.

    Question: What is the better way, staking through a wallet or through a DEX?

    A: Depends on what's easier for you personally. DEX has higher rates but more complicated to set up. CEFI is easier and just deposit and forget about it but fewer rates and centralized. It's up to you!

    Question: How much do you think you will need to have invested for a return of 4k a month?

    A: Depends on what coin you earning interest on. If it's a stable coin Around 400000 dollars If it is in Bitcoin it would be more like 1 million dollars worth of BTC.

    Question: What is binance savings?

    A: It is flexible savings on Binance, which supports a couple of dozens of coins, and takes seconds to activate.

    I hope you find the guide helpful and see you next week!

    submitted by /u/8zerozero85
    [link] [comments]

    More companies are investing in Bitcoin, reveals SEC filings - Globant bought $18 million worth BTC

    Posted: 29 May 2021 11:02 AM PDT

    Since 1821, 98% of countries that hit 130% debt/GDP have defaulted on their sovereign debt. The US crossed 130% late last year. Govt monetary policy is no longer sustainable.

    Posted: 29 May 2021 02:28 PM PDT

    Since 1821, 98% of countries that hit 130% debt/GDP have defaulted on their sovereign debt. The US crossed 130% late last year. Govt monetary policy is no longer sustainable.

    Since 1800, 51 out of 52 countries with gross government debt greater than 130% have defaulted on their commitments, either through restructuring, devaluation, high inflation or outright default. Japan is the only example of a country avoiding default despite having government debt greater than 130% of GDP, and Japan didnt solve their problems but rather just mitigated it without defaulting.

    ​

    Sovereign debt defaults over the years (Source: Hirshman Capital's analysis)

    The US has already hit 130% in 2020. And it is only poised to grow over time, with more and more debt being taken on in 2021. In historical terms, we are presently flying in uncharted territory. Will USA become only the 2nd country out of 53 to come out of such a high debt/GDP ratio without defaulting?

    Its highly unlikely that the US will actually default on its debt repayments, because unlike most other countries in the list above, most of global debt is today denominated in USD, and the US govt can print more and more USD to fulfil all their debt obligations.

    So what happens is that the value of USD will continue falling off a cliff. It has already lost a huge % (>90%) of its spending power over the years, and with government debt shooting up to uncontrollable levels, the value of USD will only weaken. And with that, the value of all your savings also goes down. The destruction of wealth.

    The only alternatives to escape this certainty i.e destruction of USD's buying power are real assets which are in demand, like gold, cryptocurrencies and real estate. While it is definitely possible that if the FED and US economy implodes, other markets including bullion and bitcoin/crypto crash together with it in the near term, but crypto markets are likely to see a very strong reversal because the fundamentals of crypto are the exact opposite of what the FED does.

    submitted by /u/DetroitMotorShow
    [link] [comments]

    Random Strangers are NOT messaging you to help you with your crypto investing.

    Posted: 29 May 2021 08:46 AM PDT

    Guess what? That Reddit Profile with the attractive person's picture randomly messaging you after you posted about being unsure if you should drop 5k on BTC or ETH is not a helpful stranger.

    More than 99% of these messages are from scammers. They might want to invest your money for you or want you to join an investment group or push you towards a shitcoin purchase, but they aren't doing it to help you or as part of a legitimate honest business. It is unlikely the person who reached out to you is one of the less than 1% of people not trying to scam you.

    What the person is saying sounds great because it is not true. Please don't lose your crypto because the greedy part of your mind wants to make quick profits.

    submitted by /u/Invest07723
    [link] [comments]

    I found the oldest known cryptocurrency post on Reddit.

    Posted: 29 May 2021 02:14 PM PDT

    Inspired by an earlier post on the front page I did some digging and found the earliest known thread on Reddit regarding cryptocurrency and bitcoin. I thought this was really interesting. Some of the comments are similar to this subreddit at the moment.

    I made a mistake with the timing, it looks like it was posted around January 2010.

    https://np.reddit.com/r/business/comments/8itlf/bitcoin_a_peertopeer_network_based_anonymous/

    submitted by /u/Disguustang
    [link] [comments]

    Just an observation from an old dude...

    Posted: 29 May 2021 04:45 PM PDT

    Y'all are bipolar in here 😂. I mean, I'm here obviously, so I enjoy it - but y'all realize they make meds for what you're going thru, right?! The highs, and lows, I see from folks on a daily basis is nothing short of astonishing! Relax fellow people's, enjoy the ride!

    **EDIT: Didnt think this would spark what it did. That being said, I love y'all crazy a*holes! Ive got my own crazy, just in different areas :) one thing I can say for sure - is y'all keep it interesting in here!

    submitted by /u/Navin__R__Johnson
    [link] [comments]

    Do we dip on Sundays? Here's how Bitcoin has fared on every Sunday so far this year...

    Posted: 29 May 2021 10:30 AM PDT

    Hey guys, there's a lot of talk about the mythical Sunday dip going around so I thought I'd see how BTC has fared so far this year

    All prices were taken from CoinMarketCap and I used the opening and closing price to gauge how well it performed. Any gain/loss that was less than 1% is classed as breakeven. I did double check everything but I apologise in advance if anything is incorrect

    Here we go...

    Sun 23rd May 8% loss

    Sun 16th May Breakeven

    Sun 9th May 1% loss

    Sun 2nd May 2% loss

    Sun 25th April 2% loss

    Sun 18th April 6% loss

    Sun 11th April breakeven

    Sun 4th April 2% gain

    Sun 28th March Breakeven

    Sun 21st March 1% loss

    Sun 14th March 3% loss

    Sun 7th March 3% gain

    Sun 28th February 2% loss

    Sun 21st February 3% gain

    Sun 14th February 3% gain

    Sun 7th February Breakeven

    Sun 31st January 3% loss

    Sun 24th January Breakeven

    Sun 17th January 1% loss

    Sun 10th January 4% loss

    Sun 3rd January 2% gain

    As you can see, we've had more losses than gains but most of the losses were insignificant amounts like 1-2%. You've essentially got the same chance of breaking even or making a profit if you don't sell in anticipation of the Sunday dip

    Hope some of you find this useful!

    submitted by /u/damnusernamegotcutof
    [link] [comments]

    Whales are Buying the Dip while Short-Term Holders sell at Loss

    Posted: 29 May 2021 05:47 PM PDT

    No one knows what the crypto space will look like in 1-10 years, but you can bet your ass it's going to look better than legacy currency.

    Posted: 29 May 2021 11:58 PM PDT

    There's a lot of bullshit posted to this sub daily, suggesting good and bad things for literally almost every coin out there. And of course the constant shilling for "hidden gem" rug pulls.

    I get we're in an interesting time where no one really knows where the market is gonna go, but please realize that as long as you're investing in a decent coin that has real use cases you're beating out 98% of people already.

    If you have the mental and financial fortitude to weather whatever storms may be coming in this space, you will be eons ahead of people too afraid to invest their wealth into anything but fiat currency.

    The money wheel is spinning faster than ever. Look at housing prices, food, gas, general consumer goods. Everything is rapidly increasing and I think the world is in for a financial crisis never before seen In our modern world.

    And the worst part is, the wheel has to keep spinning regardless of politics, or the entire system comes crashing down.

    So if you're currently invested in crypto, or are currently thinking about getting involved, just remember in these times that you're choosing something new over something that you were forced to be part of.

    You have a choice in this space.

    And thank you for choosing to be part of it.

    submitted by /u/shlammyjohnson
    [link] [comments]

    Bitcoin mining difficulty declines by 16% after China's crackdown

    Posted: 29 May 2021 07:04 PM PDT

    Crypto Whales Just Bought $2,850,000,000 in Bitcoin

    Posted: 29 May 2021 06:07 AM PDT

    Now is the time for crypto companies to focus on the infrastructure and services that will be essential in supporting the next bull run, said Brian Hoffman, Kraken’s crypto platform lead.

    Posted: 29 May 2021 06:15 PM PDT

    How to transfer crypto to Polygon/MATIC network.

    Posted: 29 May 2021 11:06 PM PDT

    Hi guys, so i've been asked a lot of times over the past few days as to how people can transfer their crypto onto Matic network without paying the absurd ethereum fees. so ive made a quick tutorial on how i do it with next to nothing fees, probably 2$ max. im also posting this here instead of the r/maticnetwork sub because that sub is pretty dead and noobs would more likely come here for information.

    1) Download METAMASK. metamask is a fantastic wallet which is simply a browser extension. it will allow you to access a bunch of different networks through one wallet.

    2) Set up xDAI network and BSC(binance smart chain) network on metmask. you need to enter details manually and the details for these can be easily found by searching 'how to set up xDAI network on metamask' (im assuming you have polygon already setup)

    3) Swap the currency you want to send into the stable coin 'DAI'. im on binance for example and there is typically very low fees for swaps IIRC?

    4) Make sure your exchange supports BSC. if it doesnt, transfer your crypto to an exchange like binance which does. Enter your metamask wallet address and send your DAI to it. MAKE SURE YOU HAVE SELECTED BINANCE SMART CHAIN NOT ETH

    5) Now, head on over to Omnibridge. you want to bridge your DAI from BSC to xDAI so make sure it says that. enter the token and how much you want to transfer then hit unlock, then execute the transfer.

    6) Now you should have DAI on the xDAI chain on METAMASK. you want to head over to 'component on xDai' - it should be a pink background. then click swap and swap all your DAI to wXDAI (wrapped xDAI).

    7) You want to unwrap your xDAI, so head over to 'wrapethDOTcom' sign in using xdai and unwrap xDAI.

    8) now head on over to xPollinate. you want to bridge from the xDai chain to MATIC MAINNET. enter how much DAI you want to bridge and voila, should be on matic in a matter of minutes.

    9) now you're done, you can swap tokens into whatever you want using many websites such as quickswap etc.

    All in all i know this method is a lot to get your head around, but overtime it will become easy and its definitely worth avoiding those astronomical eth fees. if anyone is struggling lmk and ill do my best to help!

    submitted by /u/HeungMinSwan
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment